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In fairness, the company set incredible records for fundraising and lines of credit every quarter to offset massive losses, ignores basic safety concerns in pro
by AgloeDreams 6y ago
In fairness, the company set incredible records for fundraising and lines of credit every quarter to offset massive losses, ignores basic safety concerns in production, ships beta software, sold still non-existing products ( Roadster 2, Semi, Autopilot LV5) with a promise they would ship them, took reservations for cars at false prices they would eventually never ship or make hard to get [35K model 3 which was briefly sold, $39K Model Y which they cancelled in favor of a base $45K Model Y, $40K Cybertruck which they don't even know how big it will be or if it will pass any safety tests] and then used reservations numbers to leverage raising capital.
If Tesla acted like a normal responsible company, they should have been out of cash like all the nay-sayers said. Instead they frauded and scammed their way alive.
- hef19898 6y agoThat is a pretty good summary. And also where the hype comes in. Every other company or CEO would get nailed to the wall for that, Tesla not so much. It also shows how VC money and hype can distort competition. Every EV company out there is not just competing with ICEs but also Tesla's inflated pockets. Which, IMHO, stifles innovation in that sector.